Business

Platoon to Cut 800 Jobs, Hike Prices and Shut Stores in Sweeping Overhaul

Platoon to Cut 800 Jobs, Hike Prices and Shut Stores in Sweeping Overhaul

(Bloomberg) — Peloton Interactive Inc. will begin on a sweeping overhaul that includes cutting nearly 800 jobs, raising prices for its Bike+ and Tread machines, and outsourcing functions such as equipment deliveries and customer service to outside companies. Most Read from Bloomberg The changes, which the company disclosed Friday in a memo to employees, also …

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Inflation costing the average American $717 a month, analysis shows

Inflation costing the average American $717 a month, analysis shows

Financial Services Committee member French Hill discusses how American families are struggling despite a slight ease in inflation in July on ‘Fox Business Tonight.’ The average American is shelling out an extra $717 a month because of the hottest inflation in decadesaccording to a new analysis from the Joint Economic Committee Republicans. The financial squeeze …

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'Crying CEO' doubles down on controversial LinkedIn selfie

‘Crying CEO’ doubles down on controversial LinkedIn selfie

The marketing boss who got shredded online for posting a selfie of himself crying on LinkedIn after laying off employees is doubling down on the widely mocked move. Braden Wallake, the CEO of Columbus, Ohio-based marketing services firm HyperSocial, claimed his emotional post has resonated with other business leaders, even as countless LinkedIn users accuse …

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Mom makes upsetting discovery in Walmart when she stacks toddler boys' shorts: 'This is not OK'

Mom makes upsetting discovery in Walmart when she stacks toddler boys’ shorts: ‘This is not OK’

A mom made a shocking finding when she stacked toddlers’ clothes in the middle of Walmart, and TikTokers are outraged. Physician assistant and TikToker Anne (@annethepa) went viral when she documented a strange and upsetting issue with toddlers’ clothes. Now, much like the story of the mom who threatened to scream in the middle of …

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Wall Street rallies on economic data, crude falls as stockpiles jump

Five Chinese state-owned companies to delist from NYSE

SHANGHAI/HONG KONG, Aug 12 (Reuters) – Five Chinese state-owned firms including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) said Friday they would delist from the New York Stock Exchange, amid diplomatic heightened and economic tensions with the United States. The companies, which also include Aluminum Corporation of China (Chalco) (601600.SS), PetroChina (601857.SS) and …

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Pharma stocks crater as investors brace for litigation charges

Pharma stocks crater as investors brace for litigation charges

Shares of GlaxoSmithKline, Sanofi and Haleon all sold off sharply this week, shedding tens of billions in market value, amid investor fear over potential US litigation charges focused on popular heartburn drug Zantac. This has been a known issue bumbling in the background for years but investor concern exploded this week in the lead-up to …

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Why 'box fatigue' may be hitting the apparel industry, Stitch Fix

Why ‘box fatigue’ may be hitting the apparel industry, Stitch Fix

A selection of men’s clothes packaged by Trunk Club, which was shuttered earlier this year after Nordstrom bought the personal styling service in 2014. Source: Trunk Club After earning a master’s degree a decade ago, David Hill wanted to amp up his personal style and signed up for the Trunk Club, which promised to mail …

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Fed expected to stick with hawkish interest rate hikes, strategists say

Fed expected to stick with hawkish interest rate hikes, strategists say

The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the US could be easing, according to market strategists. On Thursday, the producer price index surprisingly fell 0.5% in July from the prior month, compared with an estimate of a 0.2% gain, according to …

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